NAIROBI, Jan. 16 (Xinhua) -- The Kenyan shilling remained firm against the U.S. dollar on Wednesday, defying shockwaves in the market triggered by a terror attack at a hotel in Westlands, Nairobi.
The shilling traded to the dollar at 101.71 on Wednesday, a marginal decline from 101.70 in the Tuesday trading session, according to the Central Bank of Kenya.
Analysts attributed the performance of the shilling to a slight decline of dollar demand from importers amid stable inflows.
President Uhuru Kenyatta in an address to the nation on Wednesday revealed that 14 civilians had been killed and hundreds rescued in the attack at DusitD2 Hotel complex located on 14 Riverside Drive on Tuesday.
The central bank's foreign exchange reserves stood at 8 billion dollars by December 2018, or 5.2 months of import cover, which the regulator notes are enough to support the local currency.
